View of Shishir Baijal, on RBI monetary policy review...

Shishir Baijal, Chairman & Managing Director, Knight Frank India:
´Knight Frank India welcomes this move and we believe it´s a step in the right direction. With a 25 bps cut in the repo rate, the key policy rate is now down by 75 bps this calendar year. However, we also think that an additional reduction in the CRR would have given a bigger boost to the struggling real estate sector by improving its cash crunch scenario. Moreover, it could have also increased the possibility of banks slashing their lending rates to benefit their borrowers.´